Greetings once again, TradingView community!
Our ongoing quest through the markets unfolds another intriguing chapter, serving as a testament to the unpredictability and dynamism that is trading. If you're joining this journey for the first time or have been a steadfast companion, here's a brief rundown of the principles driving this series:
Transparency, Not a...
FRA40 - 24h expiry
The move higher is mixed and volatile, common in corrective sequences.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7300 will confirm the bearish momentum.
The measured move target is 7200.
We look to Sell at 7350 (stop at 7390)
Our profit targets will be 7250 and 7200...
Pivot: 7195.00
Our preference:
long positions above 7195.00 with targets at 7330.00 & 7375.00 in extension.
Alternative scenario:
below 7195.00 look for further downside with 7145.00 & 7080.00 as targets.
Comment:
a support base at 7195.00 has formed and has allowed for a temporary stabilization.
Pivot: 7395.00
Our preference:
short positions below 7395.00 with targets at 7215.00 & 7130.00 in extension.
Alternative scenario:
above 7395.00 look for further upside with 7440.00 & 7485.00 as targets.
Comment:
as long as the resistance at 7395.00 is not surpassed, the risk of the break below 7215.00 remains high.
Pivot: 7420.00
Our preference:
long positions above 7420.00 with targets at 7507.00 & 7555.00 in extension.
Alternative scenario:
below 7420.00 look for further downside with 7354.00 & 7300.00 as targets.
Comment:
the RSI is above its neutrality area at 50%.
Pivot: 7336.00
Our preference:
long positions above 7336.00 with targets at 7464.00 & 7500.00 in extension.
Alternative scenario:
below 7336.00 look for further downside with 7300.00 & 7270.00 as targets.
Comment:
a support base at 7336.00 has formed and has allowed for a temporary stabilization.
Pivot: 7387.00
Our preference:
short positions below 7387.00 with targets at 7310.00 & 7270.00 in extension.
Alternative scenario:
above 7387.00 look for further upside with 7415.00 & 7440.00 as targets.
Comment:
as long as 7387.00 is resistance, look for choppy price action with a bearish bias.
Falling Flag (Wedge) has formed on CAC40 since April 2023.
We have had the price come down each time but make a higher low and fail to break below 7,056.
It might be premature but, it looks like the momentum is pointing up (along with many other alternative indices).
I'll be happy to go long when the price breaks above. But now it's a waiting game....
A price action below 7300 supports a bearish trend direction.
Further bearish confirmation for a break below 7200.
The target price is set at 7100.
The stop-loss price is set at 7500.
When the profit target percentage is smaller than the stop-loss in a trade, it indicates a risk management approach where the priority is to limit potential losses and protect...
The bull market still has a couple of weeks to go. We've completed wave A and B of the primary 5, and there is just one leg up remaining in wave C, which will take us to 8000.
I'll be listening to the French BFM radio as we approach the top. I want to hear them rejoice over "Le CAC40 pulverisant les 8000 points".
Then the bull market will end. I'm talking about...
Ever since the end of the bear market in 2009, the French and the world's economy were squeezing growth out of the weakening economy in non-organic ways, predominantly by borrowing more and by increasing the government spend.
Toxic social trends emerged and flourished at the same time: inclusivity, equity, belligerent feminism, dismissal of real masculinity,...
Pivot: 7430.00
Our preference:
short positions below 7430.00 with targets at 7337.00 & 7300.00 in extension.
Alternative scenario:
above 7430.00 look for further upside with 7480.00 & 7524.00 as targets.
Comment:
the index currently faces a challenging resistance area at 7430.00
SWING TRADE - FRA40
Weekly Chart
- Price is still going up
- Price is currently correcting, and is expected to go up since it breaks the Historical high price point
In Daily Chart, price is out of alignment and is correcting
- price is expected to bounce back from Daily Demand zone
- a potential buy trade can be found inside the zone
In H4 Chart,
- A...
Pivot: 7275.00
Our preference:
short positions below 7275.00 with targets at 7145.00 & 7080.00 in extension.
Alternative scenario:
above 7275.00 look for further upside with 7324.00 & 7362.00 as targets.
Comment:
as long as the resistance at 7275.00 is not surpassed, the risk of the break below 7145.00 remains high.
Here is a probability vs the possibility of France 40. It shows that the market is giving an ascending type of pattern and has been playing in between it. Failure to break IDM will result in strong sells but a break of the IDM will result in buys with further confirmation such as candlestick confirmation
